Ready Reckoner Rates in Nashik, Explained

The government's floor value for property

The Annual Statement of Rates is notified under the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995. IGR Maharashtra publishes it as the eASR at igrmaharashtra.gov.in, zone by zone, with separate rates for open land, flats, offices and shops.

These ready reckoner rates matter because the sub-registrar charges stamp duty on the higher of your agreement price and the ready reckoner value for the property. Agree a price below the government figure and you still pay duty on the government figure.

How rates change

A revision takes effect at the start of the financial year, in the years the state makes one. From 1 April 2025 Nashik's rates rose 7.31%, according to IGR's 2025-26 table as reproduced by Housing.com and Business Today. Mumbai's rose 3.39%. Look up the current year's rate for your zone before you agree a price, and do not rely on a figure an agent quotes from memory.

Finding the rate for your property

On the eASR, choose Nashik district, then the taluka and the village or zone, and find the rate for the type of property you are buying. For a flat the rate is usually per square metre of built-up area, with adjustments for the floor, the age of the building and amenities set out in the guidelines published alongside the rates.

If you cannot work out which zone a property falls in, ask the sub-registrar's office for the zone and the guideline it will apply. Get it in writing if you can.

A worked example

Say you agree to buy a flat for Rs 50 lakh, and the ready reckoner value for its area and zone comes to Rs 55 lakh. Duty is charged on Rs 55 lakh.

Inside Nashik Municipal Corporation limits, the duty is 5% under the Stamp Act plus a 1% municipal surcharge, as reported from the corporation's receipts, and possibly a 1% metro surcharge not confirmed for Nashik. At 6%, duty on Rs 55 lakh is Rs 3.3 lakh. At 7%, it is Rs 3.85 lakh. Add the registration fee, about 1% capped at Rs 30,000, and the total is Rs 3.6 lakh to Rs 4.15 lakh.

The numbers in this example are hypothetical, chosen to show the method. Your flat's figure comes from its own zone and area, for instance a 60 sq m flat at the zone's rate per square metre.

Under-valuing on paper does not work

Writing a lower price into the agreement does not lower the duty, because the sub-registrar uses the ready reckoner value when it is higher. A large gap between the price and the government value can also draw income tax questions for both buyer and seller. Ask your chartered accountant before agreeing to a price well below the ready reckoner value.

What the rates do not tell you

Ready reckoner rates are a tax floor, not a price guide. They do not show what flats in a building actually sold for. For that, pull registered sale deeds for comparable flats from the sub-registrar's index.

When the price is Rs 50 lakh or more and the seller is resident, you also deduct 1% TDS. The threshold is tested on the higher of the price and the stamp duty value, according to summaries of the income tax department's table.